RIO DE JANEIRO, BRAZIL – The new exchange-traded fund (ETF) is managed by QR Asset Management, the manager of QR Capital holding company.
QETH11 is the first Brazilian fund with full exposure to the Ethereum token, one of the crypto market’s leading networks for the development of protocols, assets and services.
ETFs are traded on the stock exchange as if they were the shares of a company and help investors who, in the case of the crypto market, lack the technical knowledge to open an account in a brokerage house, create a digital wallet or constantly follow this market.
Thus, Brazilians can now become exposed to Ethereum by buying a QETH11 share, duly regulated by the Brazilian Securities Commission (CVM).
The QETH11 will track the price of the CME CF Ether Reference Rate, one of the broadest and safest indices in the market, also used by CME, the world’s largest derivatives exchange. Its annual management fee will stand at 0.75% and the initial investment starts at R$10, depending on the market’s variation.
The launch of the ETF sets a milestone in the Brazilian market, making ethereum, the world’s second largest cryptoasset, more accessible to investors in the country.
With the news, Brazil is again ahead of the U.S., joining Canada in the race for cryptoasset ETFs.